1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE I Operating Cash Balance | ___________________________________________________________________________________________ | | | Opening balance | | _________________________________________________________________ | Closing | | | This | | Type of account | balance | | This | fiscal | | | today | Today | month | year | ___________________________________________________________________________________________ Federal Reserve Account $ 4,874 $ 4,693 $ 4,955 $ 5,539 Tax and Loan Note Accounts (Table V) 47,240 43,963 135,752 69,698 Total Operating Balance 52,114 48,656 140,708 75,237 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE II Deposits and Withdrawals of Operating Cash | ___________________________________________________________________________________________ | | | This | Fiscal | | Deposits | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Federal Reserve Account: Agriculture Loan Repayments (misc) 12 176 4,124 Commodity Credit Corporation programs 62 443 7,465 Customs and Certain Excise Taxes 82 691 20,626 Deposits by States: Supplemental Security Income 0 1 2,750 Unemployment 278 11,611 24,515 Education Department programs 47 422 8,483 Energy Department programs 13 130 4,179 Estate and Gift Taxes 84 664 19,318 Federal Reserve Earnings 0 332 22,843 Foreign Deposits, Military Sales 11 1,019 10,823 FTD's Received (Table IV) 1,739 14,724 354,615 Housing and Urban Development programs 57 198 3,625 Individual Income and Employment Taxes, Not Withheld 266 2,698 344,667 Interest recd from T&L Depositaries 0 55 499 Justice Department programs 7 142 2,476 Postal Service 431 3,457 64,495 Public Debt Cash Issues (Table III-B) 274 125,266 3,012,954 Other Deposits: Medicare Premiums 64 306 11,756 Small Business Admin. Loan Sales 77 129 1,759 Total Other Deposits 141 1,174 57,809 Change in Balance of Uncollected Funds (closing balance $ 64) 84 300 95 Transfers from Depositaries 8,787 221,458 2,146,788 Total Federal Reserve Account 12,376 384,960 6,113,148 Tax and Loan Note Accounts: FTD's Received (Table IV) 8,359 44,608 1,015,565 Transfers from Federal Reserve Account (Table V) 3,705 88,338 1,108,765 Total Tax and Loan Note Accounts (Table V) 12,064 132,945 2,124,329 Total Deposits (excluding transfers) 11,949 208,110 4,981,925 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ ___________________________________________________________________________________________ | | | This | Fiscal | | Withdrawals | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Federal Reserve Account: Commodity Credit Corporation programs 40 172 20,637 Defense Vendor Payments (EFT) 1,273 9,644 210,076 Education Department programs 316 2,610 58,710 Energy Department programs 78 763 17,207 Federal Employees Insurance Payments 314 1,651 34,841 Fed. Highway Administration programs 73 889 19,119 Federal Salaries (EFT) 91 6,294 96,812 Food and Nutrition Service (misc) 433 1,864 24,949 Food Stamps 131 443 12,004 GSA programs 38 701 10,223 Health and Human Services Grants (misc) 240 2,143 48,728 Housing and Urban Development programs 96 2,941 35,483 Interest on Treasury Securities 1 616 98,387 Justice Department programs 58 389 7,506 Labor Dept. prgms (excl. unemployment) 40 455 8,060 Medicaid 654 7,207 122,882 Medicare 1,022 20,395 275,277 NASA programs 25 438 9,073 Postal Service Money Orders and Other 213 1,629 30,561 Public Debt Cash Redemp. (Table III-B) 354 143,839 2,877,293 Social Security Benefits (EFT) 43 21,948 305,041 Temporary Assistance for Needy Families (HHS) 37 459 11,215 Unemployment Insurance Benefits 153 1,189 23,831 Veterans Affairs programs 138 1,011 16,286 Other Withdrawals: Deposit Insurance Fund (net) 185 192 337 Federal Transit Admin. 105 458 2,639 Interior 80 414 7,468 IRS Tax Refunds Individual (EFT) 1/ 664 28,739 198,827 Transportation Security Admin. (DHS) 10 60 1,334 Unclassified 1,586 18,696 214,539 Total, Other Withdrawals 2,630 67,012 630,846 Transfers to Depositaries 3,705 88,338 1,108,765 Total Federal Reserve Account 12,195 385,041 6,113,813 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 8,787 221,458 2,146,788 Total Withdrawals (excluding transfers) 8,490 296,703 5,005,048 Net Change in Operating Cash Balance 3,458 -88,593 -23,123 1/Includes $611 million in Economic Stimulus Payments (EFT). 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-A Public Debt Transactions | ___________________________________________________________________________________________ | | | This | Fiscal | | Issues | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Marketable: Bills: Regular Series -1 121,016 2,246,499 Cash Management Series 0 0 233,002 Notes 0 -2 450,418 Bonds 0 0 29,836 Inflation-Protected Securities Increment 411 1,555 9,430 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 14 193 2,613 Interest Increment 0 534 4,733 Government Account Series 146,135 1,205,117 22,530,276 Domestic Series 0 0 599 Foreign Series 0 0 2,900 State and Local Series 260 3,703 48,635 Other 0 916 15,321 Total Issues 146,820 1,333,032 25,574,261 (Stated at face value except for savings and retirement plan securities which are stated at current redemption value.) ___________________________________________________________________________________________ | | | This | Fiscal | | Redemptions | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Marketable: Bills 0 130,693 2,421,543 Notes 0 0 351,207 Bonds 0 0 10,131 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities 49 397 8,859 Government Account Series 145,211 1,200,260 22,338,550 Domestic Series 0 0 599 Foreign Series 0 1,000 2,000 State and Local Series 303 10,774 65,402 Other 2 976 17,136 Total Redemptions 145,565 1,344,100 25,215,426 Net Change in Public Debt Outstanding 1,255 -11,068 358,836 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-B Adjustment of Public Debt Transactions to Cash Basis | ___________________________________________________________________________________________ | | | This | Fiscal | | Transactions | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Public Debt Cash Issues: Public Debt Issues (Table III-A) 146,820 1,333,032 25,574,261 Premium on New Issues 0 0 815 Discount on New Issues: Bills (-) 0 561 17,195 Bonds and Notes (-) 0 0 1,206 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 146,135 1,205,117 22,529,855 Interest Increment on United States Savings Securities (-) 0 534 4,733 Inflation-Protected Securities Increment 411 1,555 9,132 Total Public Debt Cash Issues Deposited in Federal Reserve Account 274 125,266 3,012,954 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 145,565 1,344,100 25,215,426 Premium on Debt Buyback Operation 0 0 0 Discount on Debt Buyback Operation (-) 0 0 0 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 145,211 1,200,261 22,338,132 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 354 143,839 2,877,293 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-C Debt Subject to Limit | ___________________________________________________________________________________________ | | | Opening balance | | _________________________________________________________________ | Closing | | | Fiscal | | Balance Transactions | balance | | This | year | | | today | Today | month | | ___________________________________________________________________________________________ Debt Held by the Public 2/ $ 5,228,146 $ 5,227,817 $ 5,244,195 $ 5,049,306 Intragovernmental Holdings 4,138,343 4,137,417 4,133,363 3,958,348 Total Public Debt Outstanding 9,366,489 9,365,234 9,377,557 9,007,653 Less: Debt Not Subject to Limit: Other Debt 498 498 498 502 Unamortized Discount 64,841 65,034 64,543 71,877 Federal Financing Bank 14,000 14,000 14,000 14,000 Plus: Other Debt Subject to Limit Guaranteed Debt of Government Agencies 51 51 50 69 Total Public Debt Subject to Limit 9,287,202 9,285,754 9,298,567 8,921,343 Statutory Debt Limit 9,815,000 9,815,000 9,815,000 9,815,000 Act of September 29, 2007, permanently increased the statutory debt limit to $9,815 billion. Unamortized Discount represents the discount adjustment on Treasury bills and zero-coupon bonds (amortization is calculated daily). 2/The par value of securities held by Treasury under repurchase agreements pl us the inflation compensation, less unamortized discount on bills was $1,46 3 million. 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE IV Federal Tax Deposits | ___________________________________________________________________________________________ | | | This | Fiscal | | Classification | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Withheld Income and Employment Taxes $ 9,446 $ 60,313 $ 1,144,190 Individual Income Taxes 17 93 15,708 Railroad Retirement Taxes 80 215 3,026 Excise Taxes 471 701 36,877 Corporation Income Taxes 59 572 204,550 Federal Unemployment Taxes 8 172 6,315 Estate and Gift Taxes & Misc IRS Rcpts. 3 22 475 Change in Balance of Unclassified Taxes 39 237 161 Total 10,122 62,326 1,411,301 These Receipts were deposited in: Federal Reserve Account: Directly 75 1,173 23,924 Collector Depositaries 1,664 13,550 330,691 Tax and Loan Accounts 8,359 44,608 1,015,565 Inter-agency Transfers 24 2,994 41,122 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 62 $ 607 $ 506 $ 43,963 Deposits: Taxes Received (Table IV) 3 35 8,320 8,359 Transfers to Depositaries 0 0 295 295 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 1,710 Repo Investment 0 0 0 1,700 Withdrawals: Treasury Initiated 0 0 4,505 4,505 Depositary Initiated 1 24 3,257 3,282 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 1,000 Closing Balance Today 64 619 1,359 47,240 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Monday May 12, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE VI Income Tax Refunds Issued | ___________________________________________________________________________________________ | | | This | Fiscal | | Classification | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Individual 3/$ 809 $ 40,659 $ 269,936 Business 56 1,313 47,445 3/Includes $651 million for payments issued in accordance with provisions of the Economic Stimulus Act of 2008 (PL 110-185). This statement summarizes the United States Treasury's cash and debt operations for the Federal Government. Treasury's operating cash is maintained in an account at the Federal Reserve Bank of New York and in Tax and Loan accounts at commercial banks. Major information sources include: Federal Reserve Banks, Treasury Regional Financial Centers, Internal Revenue Service Centers, Bureau of the Public Debt and various electronic systems. Information is presented on a modified cash basis. Deposits are reflected as received and withdrawals are reflected as processed. SOURCE: Financial Management Service, Department of the Treasury Note: The Daily Treasury Statement (DTS) is available by 4:00 p.m. the following business day on the Financial Management Service (FMS) website www.fms.treas.gov/dts. For more information, call the Cash Forecasting Division at 202-874-9790. The DTS is also available on the Department of Commerce's "State of the Nation" website: http://www.stat-usa.gov/sotn. For more information regarding this system, please call 202-482-1986.